STOCK MARKET WATCH, Tuesday, June 28, 2011

[Pale Blue Dot]

Source: du

STOCK MARKET WATCH, Tuesday, June 28, 2011

AT THE CLOSING BELL ON June 27, 2011

Dow 12,043.56 +108.98 (+0.90%)
Nasdaq 2,688.28 +35.39 (+1.32%)
S&P 500 1,280.10 +11.65 (+0.91%)
10-Yr Bond... 2.92 -0.02 (-0.61%)
30-Year Bond 4.27 -0.03 (-0.70%)

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Market Conditions During Trading Hours

Euro, Yen, Loonie, Silver and Gold

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Handy Links - Market Data and News:Economic Calendar    Marketwatch Data    Bloomberg Economic News    Yahoo! Finance    Google Finance    Bank Tracker    
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Handy Links - Economic Blogs:
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Handy Links - Government Issues:
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Handy Links - Videos:
The Coming Collapse of the Middle Class    Charlie Rose talks with Roubini    Charlie Rose talks with Krugman
    William Black: This Economic Disaster    Bill Moyers with Kevin Drum and David Corn

Bush Administration Officials Convicted = 2
Names: David Safavian, James Fondren
Dishonorable Mention: former House majority leader, Tom DeLay

Bush Administration Officials Charged = 1
Name(s): Richard Lopez Razo

Financial Sector Officials Convicted since 1/20/09 = 12

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http://l.yimg.com/bt/api/res/1.2/R04owQaXvSkDjlW3J0Ja9Q--/YXBwaWQ9eW5ld3M7Zmk9aW5zZXQ7aD00MjA7cT04NTt3PTYwMA--/

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This thread contains opinions and observations. Individuals may post their experiences, inferences and opinions on this thread. However, it should not be construed as advice. It is unethical (and probably illegal) for financial recommendations to be given here.

Read more: du

[Pale Blue Dot]

1. Today's Reports

Jun 28 09:00 Case-Shiller 20-city Index Apr -3.8% -3.9% -3.61%
Jun 28 10:00 Consumer Confidence Jun 59.0 60.8 60.8

Read more: http://www.briefing.com/investor/calendars/economic/2011/06/27-01/#ixzz1QZM4I5kr

[Roland99]

21. U.S. home prices show March-to-April increase, first rise in eight months: Case-Shiller

http://www.marketwatch.com/story/us-home-prices-up-for-first-time-in-eight-months-2011-06-28?dist=beforebell

U.S. home prices rose for the first time in eight months with a 0.7% increase, according to the S&P/Case-Shiller home price gauge released Tuesday. The year-on-year decline was 4%, and roughly in line with consensus expectations. From their peak, prices are down 33%

[Demeter]

49. 33%!

words fail me

[Pale Blue Dot]

2. Oil above $91 as Greece austerity vote awaited

SINGAPORE – Oil prices rose above $91 a barrel Tuesday in Asia as investors mulled whether Greece will approve more austerity measures this week to receive the next round of international aid and avert a debt default.

Benchmark oil for August delivery was up 45 cents to $91.06 a barrel at late afternoon Singapore time in electronic trading on the New York Mercantile Exchange. Crude fell 55 cents to settle at $90.61 on Monday.

In London, Brent crude for August delivery was up $1.12 to $117.11 a barrel on the ICE Futures exchange.

Greek lawmakers will vote Wednesday on a $40 billion austerity plan, government spending cuts that European officials say are a necessary condition to receive the next installment of Greece's $156 billion bailout loan from the European Union and the International Monetary Fund.

http://old.news.yahoo.com/s/ap/oil_prices

[Pale Blue Dot]

3. U.S. Stock-Index Futures Decline; Garmin Shares Fall in European Trading

U.S. stock-index futures retreated as Greek lawmakers continued debating a package of austerity measures needed to secure financial aid.

Garmin Ltd. (GRMN), the maker of global-positioning equipment, fell in Germany after European competitor TomTom NV cut its full-year forecasts. Nike Inc. (NKE), the world’s largest sporting- goods company, climbed 4.8 percent after earnings exceeded analysts’ estimates.

Standard & Poor’s 500 Index futures expiring in September slipped 0.1 percent to 1,274.8 as of 6:19 a.m. in New York. Dow Jones Industrial Average futures lost 10 points, or 0.1 percent, to 11,980.

“There’s a lot of uncertainty this week,” said Louis de Fels, a Paris-based money manager at Raymond James Asset Management International, which oversees $30 billion worldwide. “Are they really going to sign the package? Until we know what is happening, uncertainty will remain.”

http://www.bloomberg.com/news/2011-06-28/u-s-stock-index-futures-decline-garmin-shares-fall-in-european-trading.html

[xchrom]

26. US STOCKS SNAPSHOT-Futures turn up as risk appetite grows

http://uk.reuters.com/article/2011/06/28/markets-stocks-futures-idUKWEN477020110628

(Reuters) - U.S. stock index futures turned higher on Tuesday as hopes of a solution to Greece's debt crisis spurred investor appetite for risky assets.

S&P 500 futures SPc1 rose 3.6 points and were above fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures DJc1 gained 36 points, and Nasdaq 100 futures NDc1 were up 6.5 points.

[DemReadingDU]

4. BBC: Greece gripped by general strike over austerity package

6/28/11 Greece gripped by general strike over austerity package

One protester told the BBC's Jon Sopel: "We have the power in our hands"

A 48-hour general strike has begun in Greece, as parliament prepares for a key vote on tough austerity measures. Thousands of protesters have gathered outside the parliament in Athens and public transport in the capital has largely ground to a halt.

PM George Papandreou said Monday only his 28bn-euro (£25bn) austerity plan would get Greece back on its feet. If the government loses, the EU and IMF could withhold 12bn euros of loans and Greece could run out of money in weeks.

The general strike has halted most public services, with doctors, ambulance drivers, journalists and even state-funded actors taking part. Banks are closed and hospitals are operating on skeleton staff. Airports are shutting for hours at a time, with air traffic controllers walking out between 0800 and 1200 (0500-0900 GMT) and 1800 and 2200 (1500-1900 GMT). Athens international airport displayed a number of flights being cancelled from 0730. Trains, buses and ferries are also affected.

In Athens, the metro is the only form of public transport which will work "so as to allow Athenians to join the planned protests in the capital", metro drivers said.

more...
http://www.bbc.co.uk/news/world-europe-13935400

[Fuddnik]

6. Nice to see someone with some balls for a change.

[Po_d Mainiac]

25. Hmm ..a peeping Tom on SMW?

:hide:

[Fuddnik]

41. Other than the Arabs,

It's the first set I've seen since Iceland.

:crazy:

[Po_d Mainiac]

46. It be sad

By the time Amerika wakes up, the banksters will have taken up residency in the Cayman's

[plumbob]

7. Good for the strikers. Voting with their whole person.

I admire it, wish them success, and hope that none are killed as they try to prevent their own pauperization by banks.

[Warpy]

47. Refusing to play their game any longer is the only thing

that ever gets a plutocrat's attention.

First they crack down. Then they eventually yield and things get better for a while, then the whole cycle of strip mining the workers starts again.

[Roland99]

5. nice toon

:)

[Demeter]

8. Hi everyone! Having a Stressful Day, Wish Me Luck

I have rediscovered something I had forgotten...it is easier to clean if the children are gone. If that's not possible, when they are sound asleep.

And I have learned again the folly of depending on the undependable and/or delusional.

And it's only Tuesday!

[xchrom]

11. good luck!

:hi:

[Roland99]

22. have fun

My girlfriend has been taking advantage of the kids sleeping in now that it's summer.

:)

[Demeter]

9. Governor of Afghan central bank flees

Abdul Qadeer Fitrat tells FT he had resigned his post and fled to the US a week ago to ensure his safety in latest twist in financial scandal


Read more >>
http://link.ft.com/r/TWK799/08G2Q9/YGZ3O/HD5CAV/YHL44A/XL/t?a1=2011&a2=6&a3=28

Let's encourage GS and their buddies to escape to Dubai....

[Demeter]

10. ‘Expat fat’ cut as Abu Dhabi shifts focus

The oil-rich emirate is cutting costs and responding to the youth-driven protests of the Arab spring by tackling unemployment among nationals


Read more >>
http://link.ft.com/r/TWK799/08G2Q9/YGZ3O/HD5CAV/V1P77A/XL/t?a1=2011&a2=6&a3=28

[mrdmk]

24. I was thinking GS people need to join their fascist buddies in Hong Hong, China

But, is there a fascist country with a actual ruling king in this world?

[Demeter]

50. Not Sure Goldman Has Buddies Anywhere Outside of DC

and is it correct to call "buddies" the moles you've put in place?

[xchrom]

12. south asia: EU aid plan dies

http://www.atimes.com/atimes/South_Asia/MF29Df02.html

KARACHI - The World Trade Organization has declined to give approval to European Union efforts to give trade concessions to Pakistan through a limited-period waiver of trading preferences on products in a package worth almost 900 million euros (US$1.28 billion).

The European Council, which is comprised of EU heads of state and some officials but has no formal legislative power, announced the unilateral trade concessions last autumn as floods devastated much of Pakistan.

The prospects for the concessions package now appear to be dead. It is possible that the topic will be revisited at a WTO General Council meeting next month, although Dawn newspaper reported that there would be no fresh initiative from the EU to persuade India to agree to allow the preferential package. "We


have been informed unofficially by EU trade officials that the preferential trade package announced last year for Pakistan is a gone story," Dawn reported a senior government official as saying.
India along with Bangladesh were the main stumbling blocks to the proposal, although some EU member countries also reportedly raised concerns. In Pakistan, local critics also claimed Islamabad was at fault in not devoting more resources to winning the proposed concessions. The issue was handled badly by the Commerce Ministry, they said, claiming it is virtually being run by a secretary, while the ministry's WTO wing has been "abandoned" because it has no boss to deal with such issues.

[xchrom]

28. India bond yields up as risk aversion recedes

http://economictimes.indiatimes.com/markets/bonds/bond-yields-up-as-risk-aversion-recedes/articleshow/9027325.cms

MUMBAI: Indian federal bond yields and swap rates rose on Tuesday as risk aversion took a backseat after France's agreement to roll over holdings of mature Greek debt and doubts whether India would be successful in meeting its fiscal deficit target surfaced.

The 10-year benchmark bond yield ended up 2 basis points (bps) at 8.28 percent after rising to 8.30 percent intra-day.

Total volumes on the central bank's electronic trading platform were at 58.15 billion rupees ($1.3 billion) compared with 90-100 billion rupees normally.

"The next trigger for the market will be the bond auction on Friday," said Anindya Dasgupta, head of treasury, Barclays Capital in Mumbai.

[xchrom]

34. Sensex closes with moderate gains

http://timesofindia.indiatimes.com/business/india-business/Sensex-closes-with-moderate-gains/articleshow/9026397.cms

MUMBAI: A benchmark index of Indian equities markets on Tuesday closed with moderate gains, having traded in a tight range throughout the day.

The 30-scrip sensitive index ( Sensex) of the Bombay Stock Exchange (BSE), which opened at 18,493.59 points, closed at 18,484.27 points (provisional), up 71.86 points or 0.39% from its previous close at 18,412.41 points.

The 50-scrip S&P CNX Nifty of the National Stock Exchange closed 0.3% higher at 5,542.35 points.

[xchrom]

44. Muni wins China pledges

http://www.atimes.com/atimes/South_Asia/MF29Df04.html

DHAKA - Bangladesh Foreign Minister Dipu Moni's eight-day visit to China, which ended last Wednesday, concluded with a ringing assurance from Chinese Vice President Xi Jinping that Beijing would continue to stand by Dhaka in its efforts to maintain the South Asian country's strong economic growth. Her visit included the first bilateral foreign minister level meeting since the present government took office in Bangladesh in December 2008.

"Since China and Bangladesh are both developing countries, both of us are committed to stepping up development and improving living standards," said Xi, the front runner to take over from President Hu Jintao late next year. It is important for China to reinforce and develop its cooperation with Bangladesh, Xi told Moni in Beijing.

Moni, who also met with her counterpart Yang Jiechi on


Wednesday before ending her visit that evening, duly acknowledged the "great support and cooperation" her country had received from China, saying that bilateral cooperation had helped Bangladesh develop its infrastructure and several industries.

[xchrom]

13. U.S. backs Lagarde to be IMF managing director

http://www.marketwatch.com/story/us-backs-lagarde-to-be-imf-managing-director-2011-06-28-83300?dist=beforebell

WASHINGTON (MarketWatch) -- The U.S. government gave its official nod to the candidacy of Christine Lagarde to be the International Monetary Fund's next managing director, effectively sealing her nomination as she already has the backing of European nations. "(French Finance) Minister Lagarde's exceptional talent and broad experience will provide invaluable leadership for this indispensable institution at a critical time for the global economy," said Treasury Sec. Tim Geithner in a statement. "We are encouraged by the broad support she has secured among the Fund's membership, including from the emerging economies. I also want to commend my friend, Agustin Carstens, on his strong and very credible candidacy."

[xchrom]

32. IMF could pick Lagarde as chief as soon as Tuesday

http://hosted.ap.org/dynamic/stories/U/US_IMF_FUTURE?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2011-06-28-09-33-19

WASHINGTON (AP) -- French Finance Minister Christine Lagarde is poised to become the next leader of the scandal-rocked International Monetary Fund, having received a major endorsement Tuesday from the Obama administration.

U.S. Treasury Secretary Timothy Geithner announced his support for her candidacy hours before the 24-member board was expected to select her as its managing director.

Lagarde would be the first woman to head the lending organization. She would replace Dominique Strauss-Kahn, who resigned last month after being charged with sexually assaulting a New York City hotel housekeeper.

Lagarde was opposed by Agustin Carstens, a Mexican central banker whose candidacy never caught fire, even among developing countries.

[xchrom]

14. asia: Philippines moves to green transportation {video}

http://english.aljazeera.net/video/asia/2011/06/20116258516496400.html

The Philippines, like many other countries, is turning to green energy as the price of oil remains high.

Currently, the country depends almost entirely on petroleum when it comes to transportation.

But the government has ambitious goals to combat rampant pollution, and avoid high fuel costs, with new electric vehicles that provide public transportation.

Al Jazeera's Marga Ortigas reports from the capital, Manila.

[xchrom]

15. Tepco shareholders reject ditching nuclear power

http://www.marketwatch.com/story/tepco-shareholders-reject-ditching-nuclear-power-2011-06-28?dist=markets

TOKYO (MarketWatch) — Tokyo Electric Power Co. shareholders on Tuesday rejected a motion to abandon nuclear power, a proposal that arose during a contentious meeting the drew a record turnout.

The motion had called for a moratorium on building new plants as well as shutting existing ones, in the wake of the radiation crisis at the company’s Fukushima Daiichi power plant in northeast Japan. Fuel rods in three of its reactors melted after the March 11 earthquake and tsunami critically damaged cooling systems at the plant, which is still spewing radiation more than three months later.

Tepco JP:9501 0.00% /quotes/zigman/527598 TKECY +10.90% ,as the company is known, didn’t release the final tally of the votes at its semi-annual general meeting. It also said shareholders approved the appointment of 17 board members and the reappointment of president-elect Toshio Nishizawa, who takes the helm from health problem-plagued Masataka Shimizu.

[plumbob]

45. Sure, stay the course, never say die, keep whipping that dead horse!

As long as governments continue to subsidize the nuclear industry regardless of the damage they do, they're going to take that handout.

Governments are the ones who need to learn that there is no such thing as "safe" nuclear reactors or waste. As I remind my students, you can take a horse to water, you can't make him drink, but you can hold his head under until he drowns.

[Demeter]

51. Are they out of their minds?!!

In 6 months, they will have to abandon the island of Honshu...then, there won't be any need for Tepco...

Radioactive caesium heading for US coastline

http://www.abc.net.au/news/stories/2011/06/28/3255151.htm?section=justin

Japanese scientists say radioactive caesium leaking from the crippled Fukushima nuclear plant is expected to reach the west coast of the United States in five years.

Japan's Atomic Energy Agency has put together a map predicting how caesium-137 from the Fukushima plant will spread through the Pacific Ocean.

It estimates the contamination will travel 4,000 kilometres off the Japanese coast in one year, reach Hawaii in three years, and wash along the west coast of the US within five years.

But the agency believes that by then the density of the radioactive caesium will have declined so significantly it will pose no risk to human or marine life.

[xchrom]

20. China and Europe The scramble for Europe?

http://www.economist.com/blogs/charlemagne/2011/06/china-and-europe

THE visit to Britain by China’s prime minister, Wen Jiabao, sets up an interesting battle-line in Europe over trade policy.

Any sign of Chinese confidence in Europe, including today's announcement of £1.4 billion ($2.2 billion) worth of trade deals with Britain, should be welcome in these times of crisis and over-indebtedness. Yet there is a growing protectionist mood in the European Union; the European Commission is proposing to take retaliatory measures against China’s restrictions in public procurement and the export of rare-earth minerals (I’ve written about these here and here). And Chinese investments make Europeans nervous that China intends to use its amassed surpluses to buy European jewels at knock-down prices.

The European Council on Foreign Relations (ECFR), a think-tank, has given the catchy title “The Scramble for Europe” to its forthcoming paper on China’s “game-changing” economic presence in Europe. The allusion to the “scramble for Africa” at the end of the 19th century is designed to arouse Europeans’ fear about their decline in the world and the rise of China.

The parallel with Africa is flawed, of course. Europe is wealthier and more technologically advanced than China. The scramble for Africa was in many ways a colonial folly that often saw one power grab unwanted territory solely to prevent a rival from taking it. Whatever else they may be doing in Europe, Chinese companies are not loading up with junk in their acquisition of Volvo or MG. Still, the idea that Europe has become so enfeebled that foreigners can buy it up at will strikes a chord.

[xchrom]

30. Moody's warns of yet another 'lost decade'

http://search.japantimes.co.jp/cgi-bin/nb20110628n2.html

Japan may experience a third "lost decade" of low growth, complicating the government's efforts to reduce the world's largest debt burden, Moody's Investors Service said Monday.

"It is not inconceivable the country would have a third 'lost' decade of growth," Thomas Byrne, senior vice president at Moody's, said in an emailed statement.

The economy would need to expand at double the current pace at a minimum "to help the government grow out of its huge debt burden."

Growth has been stagnant since the asset bubble burst two decades ago, with the size of the economy when not adjusted for price changes near the level it was in 1991. Moody's put the nation's Aa2 sovereign debt rating on review for a downgrade in May, meaning a decision is likely within three months.

[Demeter]

52. Could this be a "Steady-State", Sustainable Economy?

Could the Japanese have outgrown the need for endless mindless "More"?

[xchrom]

16. europe: EU Iceland accession: Tough talks ahead on fisheries

http://www.bbc.co.uk/news/world-europe-13940026

Iceland has formally opened what is expected to be a long negotiating process with the EU over accession, as a dispute over fishing rights persists.

Speaking in Brussels, Iceland's Foreign Minister Ossur Skarphedinsson said his people were still not committed to joining because of the issue.

He did not expect Iceland to join the EU for at least two years, he added.

A strong fisheries lobby is opposed to surrendering exclusive access to fishing grounds to other states.

[xchrom]

17. Trichet’s ‘Strong Vigilance’ Comment Signals ECB to Raise Rates Next Week

http://www.bloomberg.com/news/2011-06-28/trichet-indicates-ecb-intends-to-raise-interest-rates-at-meeting-next-week.html

European Central Bank President Jean-Claude Trichet said policy makers are in “strong vigilance mode,” signaling they intend to raise interest rates next week.

“We’re taking the decision progressively to anchor inflation expectations,” Trichet said at a press conference in Amsterdam today following a seminar with central bankers from the Asia-Pacific region. “As far as we’re concerned, we’re in strong vigilance mode.” The euro rose almost half a cent on the comment to $1.4284 and yields on German two-year notes climbed 2 basis points to 1.40 percent.

The ECB raised its benchmark rate in April for the first time in almost three years, lifting it by a quarter point to 1.25 percent. Policy makers next convene in Frankfurt on July 7. Inflation in the 17-nation euro region has been in breach of the ECB’s 2 percent limit since December.

[xchrom]

18. Bank chief warns of wave of home repossessions if rates rise

http://www.guardian.co.uk/business/2011/jun/27/house-repossessions-wave-interest-rates-rise

Britain is facing a 'tsunami' of house repossessions as soon as interest rates start to rise, one of the country's leading bankers has warned.

Richard Banks, the chief executive of UK Asset Resolution (UKAR), the body that runs the £80bn of mortgages bailed out by the taxpayer during the banking crisis, also said in an interview with the Guardian that the Labour government's pleas at the start of the crisis for lenders to keep families in their homes was forcing some homeowners further into debt.

In a warning that the industry may have been too lenient with some of its customers, he said he believed a policy of "tough love" would be fairer to people facing long-term difficulty in keeping up payments on loans taken out when house prices were at their peak and personal incomes on the rise.

His warning came the day after the international bank regulator said the Bank of England, which has kept rates at 0.5% for more than two years, would have to raise rates shortly to curb inflation.

[xchrom]

19. Poor GDP figures add to pressure on Osborne

http://www.guardian.co.uk/business/2011/jun/28/gdp-figures-pressure-george-osborne

The Office for National Statistics has maintained that a dramatic fall in construction activity restricted UK economic growth to 0.5% in the first quarter of the year.

Construction industry income fell 3.4% during the first three months, a slight upward revision on initial estimates, offsetting a 0.9% rise in services, the ONS said.

It confirms that the economy has remained flat for almost nine months after a drop in GDP of 0.5% in the final quarter of 2010 and zero growth in the last month of the third quarter.

The figures will come as a disappointment to the Treasury which is under pressure from backbench coalition MPs to show that cuts in public services and an emphasis on safeguarding the public finances have boosted confidence and injected some life into the economy.

[xchrom]

33. French Internet company seeks $419 mln from Google

http://hosted.ap.org/dynamic/stories/E/EU_FRANCE_GOOGLE?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2011-06-28-09-37-01

PARIS (AP) -- Google faces a new, multimillion-dollar challenge in Europe after a French Internet company filed a lawsuit Tuesday saying the search engine giant unfairly squeezed out competitors in France.

The company, 1plusV, says it is mounting the largest single claim of its kind in Europe against Google. It comes soon after the U.S. Federal Trade Commission, following the lead of European regulators, started investigating claims that Google has abused its dominance of Internet search and advertising to stifle competition.

The Versailles, France-based company is claiming euro295 million ($419 million) in damages from Google Inc. and Google France in the suit filed Tuesday in a Paris commercial court.

[xchrom]

35. BoI terminates bond swap offer

http://www.irishtimes.com/newspaper/breaking/2011/0628/breaking12.html

Bank of Ireland has terminated its offer to swap £75 million (€84.3 million) of its bonds a day before a London court was due to start hearing a legal challenge to the transaction.

The lender said it was ending its offer to swap its 13.375 per cent perpetual unsecured bonds for cash or equity with immediate effect after some owners of the securities had "procedural difficulties" in taking part in the exchange.

By the close of business on June 24th, about 12 per cent had accepted the offer, which imposed an 80 per cent discount on bonds exchanged for cash, and 60 per cent for those swapped for equity.

“This contrasts with an overall participation level to date of approximately 74 per cent of eligible holders across all other series of existing securities which are the subject of the offers relating to those existing securities,” the bank said.

[Demeter]

55. The Haircuts Begin

I suppose it's better than nothing (until the equity is gone....I'd just take the cash and run).

[xchrom]

36. Google head urges more broadband investment

http://www.irishtimes.com/newspaper/finance/2011/0628/1224299680122.html

IRELAND NEEDS to do better at broadband, and getting businesses online, Google’s Eric Schmidt said yesterday.

Speaking yesterday in Dublin, the company's executive chairman said Ireland was behind some of our competitors – France, Germany and the UK getting a specific mention – in providing high-speed internet access to homes and businesses, through both traditional access and wireless networks such as 4G.

“Which is not to say that you can’t catch up quickly, but you need to do it,” he said. “It’s not a tragedy but it’s an issue.

[xchrom]

37. Consumer sentiment falls in June

http://www.irishtimes.com/newspaper/breaking/2011/0628/breaking27.html

Consumer sentiment weakened in June, recording its lowest reading since February, as consumers become increasingly concerned about the ongoing debt crisis, possible interest rate hikes and household charges.

The KBC Bank Ireland/ESRI Consumer Sentiment Index fell to 56.3 this month, from 59.4 in May. In June 2010, the reading was 67.9. However, the index remains far above the all-time low of 39.6 that was recorded in July 2008.

This fall was also seen in other countries this month, with both US indicators and euro zone confidence flash estimates edging lower, showing Irish consumer concerns were shared elsewhere.

An expected bounce in sentiment in the wake of visits by US president Barack Obama and Queen Elizabeth II failed to emerge, reflecting instead negative developments that have caused some pullback from a healthier trend in much of the first half of the year.

[xchrom]

38. Graduate gloom as 83 apply for every vacancy

http://www.independent.co.uk/news/education/education-news/graduate-gloom-as-83-apply-for-every-vacancy-2303650.html

The number of graduates applying for each job has doubled since 2009, as three successive years of university leavers struggle with an over-saturated market.

Figures out today reveal that although the number of available jobs is slowly increasing, the largest employers now receive an average of 83 CVs for each single vacancy, with some top companies inundated by as many as 150 applications per job.

Following two years of economic hardship employers can choose from a much larger pool of graduates, many of whom have missed out during previous hiring windows.

[wordpix]

58. here, Iceland has protected its fisheries and other EU countries want "in" b/c they haven't

protected their own areas. Get with the program, EU, and protect what stocks you have left. THAT is the issue!

[Festivito]

23. Debt: 06/24/2011 14,344,491,791,132.71 (DOWN 11,616,576.22) (Fri, UP some.)

(OVER the old debt limit of 14.294-trillion dollars by 50-billion dollars. Good day.)
Fireworks from across Jefferson.
(Debt under Obama seems to jump up big then drop slowly maybe up a little and down a little for days--repeat.)
= Held by the Public + Intragovernmental(FICA)
= 9,739,123,756,153.88 + 4,605,368,034,978.83
UP 1,084,698,810.36 + DOWN 1,096,315,386.58

Source: Debt to the penny:
http://www.treasurydirect.gov/NP/BPDLogin?application=np

THINKING IN BILLIONS: Think 3 or 4 dollars per billion in a 312-Million person America.
If every American, man, woman and child puts in $3.20 THAT'S 1B$, and $3,202.04 makes 1T$.
A family of three: Mom, Dad, Child: $9.61, ABOUT TEN BUCKS for a 1B$ federal program.
I hope that is clear. However, I'd suggest using $3 per 1B$ to underestimate it.
Use $4 per 1B$ to overestimate the cost when thinking: Is the federal program worth it?
Aid to Dependant Children: 2B$/yr =$8/yr(a movie a year) Family of 3: $24/yr(an hour of bowling)

PERSONALIZED DEBT:
Every 12 seconds we net gain another American, so at the end of the workday of the report, there should be 312,300,992 people in America.
http://www.census.gov/population/www/popclockus.html ON 10/04/2010 04:37 -> 310,403,677
Currently, each of these Americans owe $45,931.62.
A family of three owes $137,794.87. (And that is IN ADDITION to their mortgage.)

ANALYSIS:
There were 23 reports in the last 30 to 31 days.
The average for the last 23 reports is -41,601,287.35.
The average for the last 30 days would be -31,894,320.30.
The average for the last 31 days would be -30,865,471.26.
There were 252 reports in 365 days of FY2007 averaging 1.99B$ per report, 1.37B$/day.
There were 253 reports in 366 days of FY2008 averaging 4.02B$ per report, 2.78B$/day.
There were 75 reports in 112 days of GWB's part of FY2009 averaging 8.03B$ per report, 5.38B$/day.
There were 174 reports in 253 days of Obama's part of FY2009 averaging 7.33B$ per report, 5.07B$/day so far.
There were 249 reports in 365 days of FY2009 averaging 7.57B$ per report, 5.16B$/day.
There were 251 reports in 365 days of FY2010 averaging 6.58B$ per report, 4.53B$/day.
There were 183 reports in 267 days of FY2011 averaging 4.28B$ per report, 2.93B$/day.
Above line should be okay

PROJECTION:
There are 576 days remaining in this Obama 1st term.
By that time the debt could be between 14.3 and 17.3T$.
It could be higher. It could be lower.

HISTORICAL:
President's term begins and ends on Jan 20.
(Guess who might want to hide the Reagan Bush years. Jan 20 data is missing before 1993.)
01/20/1993 _4,188,092,107,183.60 WJC Inaugural
01/22/2001 _5,728,195,796,181.57 WJC (UP 1,540,103,688,997.97)
01/20/2009 10,626,877,048,913.08 GWB (UP 4,898,681,252,731.43)
06/24/2011 14,344,491,791,132.71 BHO (UP 3,717,614,742,219.63 so far since Obama took office.)

FISCAL YEAR DEBT CHANGE, Sep 30 prior year to Sep 30 named year:
(One "* " for each 40B$ reached)
FY1994 +0,281,261,026,873.94 ------------* * * * * * * WJC
FY1995 +0,281,232,990,696.07 ------------* * * * * * * WJC
FY1996 +0,250,828,038,426.34 ------------* * * * * * WJC
FY1997 +0,188,335,072,261.61 ------------* * * * WJC
FY1998 +0,113,046,997,500.28 ------------* * WJC
FY1999 +0,130,077,892,735.81 ------------* * * WJC
FY2000 +0,017,907,308,253.43 ------------WJC
FY2001 +0,133,285,202,313.20 ------------* * * C&B
01-WJC +0,053,598,528,417.78 ------------* WJC 31% of FY, 40% of FY-Debt
01-GWB +0,079,686,673,895.42 ------------* GWB 69% of FY, 60% of FY-Debt
FY2002 +0,420,772,553,397.10 ------------* * * * * * * * * * GWB
FY2003 +0,554,995,097,146.46 ------------* * * * * * * * * * * * * GWB
FY2004 +0,595,821,633,586.70 ------------* * * * * * * * * * * * * * GWB
FY2005 +0,553,656,965,393.18 ------------* * * * * * * * * * * * * GWB
FY2006 +0,574,264,237,491.73 ------------* * * * * * * * * * * * * * GWB
FY2007 +0,500,679,473,047.25 ------------* * * * * * * * * * * * GWB
FY2008 +1,017,071,524,649.92 ------------* * * * * * * * * * * * * * * * * * * * * * * * * GWB
FY2009 +1,885,104,106,599.30 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * B&O
09GWB +0,602,152,152,000.60 ------------* * * * * * * * * * * * * * * GWB 31% of FY, 32% of FY-Debt
09-BHO +1,282,951,954,598.70 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * BHO 69% of FY, 68% of FY-Debt
FY2010 +1,651,794,027,380.00 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * BHO
FY2011 +0,782,868,760,241.00 ------------* * * * * * * * * * * * * * * * * * * BHO
Endof11 +1,070,213,848,269.53 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * BHO

LAST FIFTEEN REPORTS OF ADDITIONS TO PUBLIC DEBT(NOT FICA):
06/06/2011 -002,705,846,785.55 -- Mon
06/07/2011 -004,526,140,661.35 --
06/08/2011 +009,230,133,015.51 ------------*********
06/09/2011 +006,779,036,856.95 ------------*********
06/10/2011 +000,090,705,816.97 ------------*******
06/13/2011 -002,477,556,635.49 -- Mon
06/14/2011 -005,676,305,314.31 --
06/15/2011 +005,724,686,785.42 ------------*********
06/16/2011 -004,915,287,264.64 --
06/17/2011 -003,280,766,773.26 --
06/20/2011 -001,398,167,502.39 -- Mon
06/21/2011 -005,323,373,908.56 --
06/22/2011 +008,838,427,845.80 ------------*********
06/23/2011 -003,583,724,883.29 --
06/24/2011 +001,084,698,810.36 ------------*********

-2,139,480,597.83 Total of 15 above reports.

Heavy borrowing seems to start after 09/18/2008 while Bush was in power JUST BEFORE fiscal year end.
Bush admin borrowed $962,245,245,654.01 in those last 124 days in office crossing two fiscal years.
$360,093,093,653.42 in last 12 days of FY2008, and $602,152,152,000.59 in subsequent 112 days before leaving office.

For a prettier and more explanatory view of our nation's debt:
http://www.brillig.com/debt_clock
http://www.usdebtclock.org/
DUer primer on National debt

(Debt to the penny keeps changing. Stuff is missing. Best to keep our own history.) LAST REPORT:
http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=102&topic_id=4897661&mesg_id=4897673

[Festivito]

70. Debt: 06/27/2011 14,344,456,938,174.19 (DOWN 34,852,958.52) (Mon, DOWN some.)

(OVER the old debt limit of 14.294-trillion dollars by 50-billion dollars. Good day.)
Up late, up early, still up.
(Debt under Obama seems to jump up big then drop slowly maybe up a little and down a little for days--repeat.)
= Held by the Public + Intragovernmental(FICA)
= 9,736,653,232,836.52 + 4,607,803,705,337.67
DOWN 2,470,523,317.36 + UP 2,435,670,358.84

Source: Debt to the penny:
http://www.treasurydirect.gov/NP/BPDLogin?application=np

THINKING IN BILLIONS: Think 3 or 4 dollars per billion in a 312-Million person America.
If every American, man, woman and child puts in $3.20 THAT'S 1B$, and $3,201.82 makes 1T$.
A family of three: Mom, Dad, Child: $9.61, ABOUT TEN BUCKS for a 1B$ federal program.
I hope that is clear. However, I'd suggest using $3 per 1B$ to underestimate it.
Use $4 per 1B$ to overestimate the cost when thinking: Is the federal program worth it?
Aid to Dependant Children: 2B$/yr =$8/yr(a movie a year) Family of 3: $24/yr(an hour of bowling)

PERSONALIZED DEBT:
Every 12 seconds we net gain another American, so at the end of the workday of the report, there should be 312,322,592 people in America.
http://www.census.gov/population/www/popclockus.html ON 10/04/2010 04:37 -> 310,403,677
Currently, each of these Americans owe $45,928.34.
A family of three owes $137,785.01. (And that is IN ADDITION to their mortgage.)

ANALYSIS:
There were 21 reports in the last 30 to 31 days.
The average for the last 21 reports is -46,250,793.81.
The average for the last 30 days would be -32,375,555.67.
The average for the last 31 days would be -31,331,182.90.
There were 252 reports in 365 days of FY2007 averaging 1.99B$ per report, 1.37B$/day.
There were 253 reports in 366 days of FY2008 averaging 4.02B$ per report, 2.78B$/day.
There were 75 reports in 112 days of GWB's part of FY2009 averaging 8.03B$ per report, 5.38B$/day.
There were 174 reports in 253 days of Obama's part of FY2009 averaging 7.33B$ per report, 5.07B$/day so far.
There were 249 reports in 365 days of FY2009 averaging 7.57B$ per report, 5.16B$/day.
There were 251 reports in 365 days of FY2010 averaging 6.58B$ per report, 4.53B$/day.
There were 184 reports in 270 days of FY2011 averaging 4.25B$ per report, 2.90B$/day.
Above line should be okay

PROJECTION:
There are 573 days remaining in this Obama 1st term.
By that time the debt could be between 14.3 and 17.3T$.
It could be higher. It could be lower.

HISTORICAL:
President's term begins and ends on Jan 20.
(Guess who might want to hide the Reagan Bush years. Jan 20 data is missing before 1993.)
01/20/1993 _4,188,092,107,183.60 WJC Inaugural
01/22/2001 _5,728,195,796,181.57 WJC (UP 1,540,103,688,997.97)
01/20/2009 10,626,877,048,913.08 GWB (UP 4,898,681,252,731.43)
06/27/2011 14,344,456,938,174.19 BHO (UP 3,717,579,889,261.11 so far since Obama took office.)

FISCAL YEAR DEBT CHANGE, Sep 30 prior year to Sep 30 named year:
(One "* " for each 40B$ reached)
FY1994 +0,281,261,026,873.94 ------------* * * * * * * WJC
FY1995 +0,281,232,990,696.07 ------------* * * * * * * WJC
FY1996 +0,250,828,038,426.34 ------------* * * * * * WJC
FY1997 +0,188,335,072,261.61 ------------* * * * WJC
FY1998 +0,113,046,997,500.28 ------------* * WJC
FY1999 +0,130,077,892,735.81 ------------* * * WJC
FY2000 +0,017,907,308,253.43 ------------WJC
FY2001 +0,133,285,202,313.20 ------------* * * C&B
01-WJC +0,053,598,528,417.78 ------------* WJC 31% of FY, 40% of FY-Debt
01-GWB +0,079,686,673,895.42 ------------* GWB 69% of FY, 60% of FY-Debt
FY2002 +0,420,772,553,397.10 ------------* * * * * * * * * * GWB
FY2003 +0,554,995,097,146.46 ------------* * * * * * * * * * * * * GWB
FY2004 +0,595,821,633,586.70 ------------* * * * * * * * * * * * * * GWB
FY2005 +0,553,656,965,393.18 ------------* * * * * * * * * * * * * GWB
FY2006 +0,574,264,237,491.73 ------------* * * * * * * * * * * * * * GWB
FY2007 +0,500,679,473,047.25 ------------* * * * * * * * * * * * GWB
FY2008 +1,017,071,524,649.92 ------------* * * * * * * * * * * * * * * * * * * * * * * * * GWB
FY2009 +1,885,104,106,599.30 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * B&O
09GWB +0,602,152,152,000.60 ------------* * * * * * * * * * * * * * * GWB 31% of FY, 32% of FY-Debt
09-BHO +1,282,951,954,598.70 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * BHO 69% of FY, 68% of FY-Debt
FY2010 +1,651,794,027,380.00 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * BHO
FY2011 +0,782,833,907,282.40 ------------* * * * * * * * * * * * * * * * * * * BHO
Endof11 +1,058,275,467,252.13 ------------* * * * * * * * * * * * * * * * * * * * * * * * * * BHO

LAST FIFTEEN REPORTS OF ADDITIONS TO PUBLIC DEBT(NOT FICA):
06/07/2011 -004,526,140,661.35 --
06/08/2011 +009,230,133,015.51 ------------*********
06/09/2011 +006,779,036,856.95 ------------*********
06/10/2011 +000,090,705,816.97 ------------*******
06/13/2011 -002,477,556,635.49 -- Mon
06/14/2011 -005,676,305,314.31 --
06/15/2011 +005,724,686,785.42 ------------*********
06/16/2011 -004,915,287,264.64 --
06/17/2011 -003,280,766,773.26 --
06/20/2011 -001,398,167,502.39 -- Mon
06/21/2011 -005,323,373,908.56 --
06/22/2011 +008,838,427,845.80 ------------*********
06/23/2011 -003,583,724,883.29 --
06/24/2011 +001,084,698,810.36 ------------*********
06/27/2011 -002,470,523,317.36 -- Mon

-1,904,157,129.64 Total of 15 above reports.

Heavy borrowing seems to start after 09/18/2008 while Bush was in power JUST BEFORE fiscal year end.
Bush admin borrowed $962,245,245,654.01 in those last 124 days in office crossing two fiscal years.
$360,093,093,653.42 in last 12 days of FY2008, and $602,152,152,000.59 in subsequent 112 days before leaving office.

For a prettier and more explanatory view of our nation's debt:
http://www.brillig.com/debt_clock
http://www.usdebtclock.org/
DUer primer on National debt

(Debt to the penny keeps changing. Stuff is missing. Best to keep our own history.) LAST REPORT:
http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=102&topic_id=4899081&mesg_id=4899151

[xchrom]

27. PRECIOUS-Gold edges above $1,500/oz as euro, oil recover

http://uk.reuters.com/article/2011/06/28/markets-precious-idUKLDE75R0O820110628

LONDON, June 28 (Reuters) - Gold rose back above $1,500 an ounce in Europe on Tuesday, recovering in line with oil prices as expectations that Greece's debt crisis may be contained tempered risk aversion, and as the euro regained some ground.

Prices remain range bound, however, as traders sought clarity on the euro zone debt crisis and the subsequent direction of the euro currency. Gold is closely linked to foreign exchange moves, as it is often traded as a currency.

Spot gold was bid at $1,502.55 an ounce at 0940 GMT, against $1,496.20 late in New York on Monday. U.S. gold futures for August delivery GCv1 rose $7.20 an ounce to $1,503.60.

The euro has suffered in recent weeks from worries Greece's debt crisis could destabilise the euro zone. If these concerns are allayed the euro could recover, benefiting gold despite the fact that it would lose some of its safe-haven bid.

[xchrom]

29. CalPERS' $11-million legal bill raises eyebrows

http://www.latimes.com/business/la-fi-calpers-khinda-20110628,0,293172.story

Reporting from Sacramento—
The California Public Employees' Retirement System paid $11 million to a Washington, D.C., law firm and its advisors to conduct an internal review, an amount that has some of the fund's own directors proposing more stringent oversight of outside legal fees.

The review found support for allegations of corruption, bribery and influence peddling at the country's biggest public pension fund, but some lawyers and financial experts familiar with the scandal said they were surprised by the large legal fees.

They also suggested that the investigative work could have been done by the state attorney general's office, which has sued two former CalPERS officials over fraud allegations.

"I've never heard of a pension fund paying that kind of money" on an internal investigation, said Ed Siedle, an expert who investigates pension fund investment portfolios.

[xchrom]

31. World Bank offers farmers money to hedge against volatile food prices

http://www.guardian.co.uk/global-development/2011/jun/27/world-bank-farmers-hedge-against-food-prices

The World Bank has teamed up with JP Morgan to offer farmers and food manufacturers in poor countries access to financial derivatives to hedge their risk from volatile food prices. Two other banks, one in sub-Saharan Africa and one in Europe with Middle East partnerships, as yet unidentified, are expected to launch similar products with the World Bank shortly.

Excessive speculation in agricultural commodities has been attacked by development charities for fuelling price swings that undermine poor farmers' livelihoods. However, the World Bank believes that giving them access to the markets will act as an insurance policy. It says safeguards are in place to ensure participants cannot bet against themselves and add to the speculative pressure that NGOs want curbed.

In the first phase, the World Bank will underwrite $200m in credit risk through its private sector arm, the IFC, which will be matched by up to $200m from JP Morgan. The IFC calculates this will enable the private sector in developing countries to buy up to $4bn of protection against price volatility.

[xchrom]

39. World economy set to face more frequent shocks

http://www.independent.co.uk/news/business/news/world-economy-set-to-face-more-frequent-shocks-2303761.html

n an updated and expanded version of the four horsemen of the apocalypse, the Organisation for Economic Co-operation and Development (OECD) has identified five "global shocks" that will destabilise the world economy with increasing frequency in coming years.

Rather than the traditional perils of conquest, war, famine and death, the OECD identifies viral pandemics, cyber attacks, financial crises, socio-economic unrest and geomagnetic storms as the five "global shocks" that will have to be endured.

The OECD, which comprises the world's advanced economies, said: "Disruptive shocks to the global economy are likely to become more frequent and cause greater economic and societal hardship." This, the organisation says, is because of the "increasing interconnectivity" of the world economy and the speed with which people, goods, services and data travel, so shocks are more rapidly transmitted throughout the world. The financial crisis of 2008 was the first such episode when, after Russia, China and India had rejoined a globalised world economy connected by the web, the failure of Lehmans triggered an instantaneous and simultaneous global collapse in confidence. At that point everything from Brazilian new car sales to Japanese share values "fell off a cliff".

The OECD highlights how a pandemic similar to the outbreak of Sars in 2002 could spread quickly and with devastating effect in Asia's "megacities" such as Dhaka, Manila and New Delhi. New antibiotics are "desperately needed to keep pace with the rising development of bacteria that are drug-resistant," the report adds.

[xchrom]

40. New recession begins next year, Shilling says

http://www.marketwatch.com/story/new-recession-begins-next-year-shilling-says-2011-06-24

NEW YORK (MarketWatch) — Rough patch or double dip?

That’s the debate going on these days from executive offices to the local malls. Business owners, workers and, yes, even economists are trying to decide whether the U.S. economy has hit a speed bump or is heading for a collision.

We all know growth is tepid, unemployment is a bear and housing, well, stinks. That’s why major Wall Street firms, the International Monetary Fund and, on Wednesday, the Federal Reserve all slashed their estimates for U.S. GDP growth this year.

Housing remains critical, so I looked up one of the few people who saw the housing bust and financial crisis coming years before they happened: Gary Shilling, economist and author of “The Age of Deleveraging.” While his steadfast bearishness didn’t surprise me, his blunt assessment did.

“I’m predicting another recession next year,” he told me.

[Fuddnik]

42. Oh yeah? These guys say everything looks just peachy!

http://www.msnbc.msn.com/id/43554032/ns/business-eye_on_the_economy/

By CHRISTOPHER S. RUGABER, PAUL WISEMAN
updated 6/27/2011 4:57:38 PM ET



WASHINGTON — Farewell and good riddance to the first half of 2011 — six months that are ending as sour for the economy as they began.

Most analysts say economic growth will perk up in the second half of the year. The reason is that the main causes of the slowdown — high oil prices and manufacturing delays because of the disaster in Japan — have started to fade.

"Some of the headwinds that caused us to slow are turning into tail winds," said Mark Zandi, chief economist at Moody's Analytics.

For an economy barely inching ahead two years after the Great Recession ended, the first half of 2011 can't end soon enough. Severe storms and rising gasoline prices held growth in January, February and March to a glacial annual rate of 1.9 percent.

The current quarter isn't shaping up much better.

(snip)

[xchrom]

43. peachy!

:woohoo:

[wordpix]

59. however, the Dow opened @ 11,577 on Jan. 3 this year & now @ 12,178

That is not a bad run up

[wordpix]

60. "another recession"? We aren't out of the one we're in b/c unemployment is still @ 10% or so

and housing prices remain low where unemployment is high

[Demeter]

62. Well, if we put the crooks in jail

they couldn't do any more shocking stuff to the economy.....just saying.

[PATRICK]

48. An amateurish question

that is simple and complicated and perhaps far out.

One of the shocks that could upset the apple cart is Greece defaulting, i.e. they will be the goat for the "new" recession. Other countries might do the same. Greek Conservative pols are backing resistance to the bailout.

Question: Might not our our GOP be "hanging tough" until possibly someone else can be blamed for the situation and then simply join the "inevitable" default meltdown and the global popular anger?

If Greece is resolved might there then be enormous pressure on the GOP to act sane so as not to be the really really obvious goat for a calamity they in fact very much helped create?

Sorry that is two versions of the same question.

[DemReadingDU]

57. Actually, I mentioned something similar to spouse today

That basically Dems want to increase taxes but Repubs want to cut spending. Neither side can agree and no one can come to any compromise. Both sides know the system, as it is now, is unsustainable. This will continue, on and on, until the system implodes on its own. Then both sides will blame each other for the mess.

edit: The outcome of Greece could be a factor, but there are so many things going on, anything and everything could be blamed.

[PATRICK]

67. When everyone is to blame

the GOP can do whatever they want for political gain, even shift most of the blame upon Dems. If they provide the Big Climax though that could backfire to their extinction. So they wait a bit and see if they can merely disappear their role in the outside wave.

Anyone know if this is foremost in real life strategy or off base?

[StarburstClock]

53. Financial news today: "Lie, BS, Misdirection, False Paradigm, More Lies".

Just thought I'd update everyone, LOL.

[Demeter]

54. And then...a Miracle Occurs

http://star.psy.ohio-state.edu/coglab/Miracle.html

Oldie, but goodie. And so apt for today...

[xchrom]

56. ...

:spray:

[Fuddnik]

61. Here's a good one.

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=433x696846

[Demeter]

63. I Have no Hope, and I See No Change anywhere in the future.

[Fuddnik]

64. I found a quarter in the sofa cushions.

It's about all the change I expect.

[wordpix]

66. There WILL be change if we can get back those 2 dozen seats in the House

Don't lose hope :) :hi:

[Fuddnik]

69. Yeah, I seem to recall all the change when we had majorities in both houses.

I found a quarter AND a nickel in the sofa cushions.

I lost hope in 2007 when they didn't deliver on anything. War funding continued. No repeal of the bankruptcy reform of 2005. No investigations, much less impeachments. Reid and Pelosi were too worried about appealing to right-wing independents and other assorted Republicans, to try to keep their majorities. That really worked out.

We wouldn't be having this debt ceiling conversation had they let the Bush tax cuts expire, like they promised.

[PATRICK]

68. I have lived long enough to be very wrong

that realistically bleak vision. no nuclear war. The crumbling of Communism. The total real world discrediting of Conservatism, Capitalism and the GOP and the naming of the beastly plutocrats- although incredibly the Zombies walk among us still! Even headshots won't stop them. Even the public knowledge spread on the Net doesn't burn away the rot.

Even though it keeps coming to this with exponentially higher stakes. Maybe there was hope at the Alamo notwithstanding.

[wordpix]

65. that IS a good one and thank goddess for Nancy Pelosi